This lecture examines risk management as a management decision-making process from the "Shougo-seisaku-gaku". Traditional risk management focused on planning and reducing vulnerabilities. However, in the era of VUCA, is it appropriate to predict, plan, and reduce vulnerabilities? This lecture is to start with this question. Therefore, I will not be lecturing on so-called "how to's" such as how to avoid risks wisely. This lecture is not based on pragmatism in the United States, so please do not misunderstand this point.